Authorized Payments introduce a streamlined approval workflow for ACH and wire transfers from your Flex Bank Account, enhancing security and control. Users assigned as 'Admin - Limited' can initiate and queue up wires and ACH transfers. However, these transactions require the authorization of a user with 'Admin - Full' privileges for the payments to be processed. This two-tiered system ensures that all transactions are thoroughly reviewed and approved by authorized personnel, adding an extra layer of oversight and financial governance.
Admin - Limited
- Access Payment Portal: Click on 'Payments' in the left-hand nav bar to enter the payment portal.
- Initiate Payment: Select 'Send Payments'.
- Choose Recipient: Pick an existing recipient or add a new one.
- Select Payment Method: Choose either 'Domestic ACH' or 'Domestic Wire' and provide the necessary recipient and banking details.
- Enter Payment Details: Specify the payment amount and the checking account you want the funds to be debited from.
- Add Memos and Attachments: Include an external memo for the recipient. You can also add an internal memo and attachments for your own records.
- Review and Submit: Confirm the payment details, then click 'Submit Request'.
Users with the 'Admin - Full' privilege level will receive an email notification alerting them to payments that require their approval.
Admin - Full
- Access Payment Portal: Click on 'Payments' in the left-hand nav bar to enter the payment portal.
- Navigate to Action Required: In the portal, click on the “Action Required” tab. Here, you'll find payments awaiting your approval. Select the one you need to review.
- Review and Confirm: A detailed information window will appear on the right-hand side. Carefully review all transaction details. To approve, click “Approve” and enter the 6-digit SMS code sent to your mobile device for additional security. If you decide not to proceed with the transaction, click “Deny” to halt its progress and remove it from your workflow queue.